“We are very pleased with this agreement to expand our Residual Value Guarantee Programs to the powerhouse IADA international resale network,” said Jetquity CEO & Managing Partner Asad Rahman. “We have found that IADA-Accredited Dealers are the world’s best experts in helping their aviation clients.”
He added, “Our innovative guarantees give IADA dealers valuable tools to help their clients avoid possible future financial downturns in the preowned aircraft marketplace. Only IADA Dealers will be permitted to sell Jetquity’s Residual Value Guarantee Program to their preowned clients,” he added.
Jetquity, which currently has 80 deals with aircraft buyers, is financially backed by a collection of Middle Eastern family offices, sovereign wealth funds and US financial institutions. Jetquity, has already structured numerous purchasing guarantees for clients of IADA-Accredited Dealers, including Jetcraft and JetHQ, and a number of IADA OEM Members.
“Going forward, Jetquity's Residual Value Guarantee Program will be available to aircraft buyers using the services of IADA-Accredited Dealers and Certified Brokers,” said IADA Chairman Phil Winters, who is also Vice President Aircraft Sales & Charter Management for Greenwich AeroGroup & Western Aircraft Inc. “An IADA dealer who sells a Jetquity Residual Value Guarantee will represent Jetquity in reselling that aircraft,” he added.
Under the Jetquity program, the aircraft owner clients of IADA Dealer Members will pay preferential fees consisting of a small percentage of the aircraft’s value. Jetquity guarantees to buy back the aircraft at set prices after three or five years.
At that time, if an airplane is worth more than the guaranteed value, its owner is free to sell it on the market, with no maximum price cap. If it is worth less, Jetquity buys it at the pre-established price, and engages the IADA Dealer to resell it. For more info go to Jetquity Solutions.
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